In a country that loses a quarter of its electricity to theft, Prime Minister Narendra Modi's parliamentary constituency — Varanasi — has shown a way out by pushing distribution cables underground and deploying technology to track illegal connections.

The World Bank recently has put out a report in which the demand for electricity in India is growing at the same rate as in France or Germany as millions of people in rural or impoverished areas seek access to power in their homes and workplaces.

The growth of our business in India over the past 20 years has been very satisfying. The initial 15 years continuously gave us healthy, double-digit growth, supported by several additions in the product offerings to the market.

The power supply situation in India has seen a significant improvement in the past two to three years. According to reports, in the year 2011, more than 33 per cent of the rural population and 6 per cent of the country's urban population had lacked electricity.

Economic development and need for reliable power supply due to population growth have accelerated the demand for power in India. Further, growth in industrialisation and infrastructure development have resulted into demand for power and distribution transformers across the country.

“With India being the fifth largest energy consumer in the world, the country needs to make a concerted effort in promoting energy efficiency by reducing its dependence on fossil fuels and curtailing carbon footprints.